Published on 1/19/2011 in the Prospect News Structured Products Daily.
New Issue: UBS prices $11.23 million 9.28% trigger yield optimization notes linked to ING
By Angela McDaniels
Tacoma, Wash., Jan. 19 - UBS AG, London Branch priced $11.23 million of 9.28% trigger yield optimization notes due Jan. 23, 2012 linked to the American Depositary Shares of ING Groep NV, according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face amount of $10.56, which is equal to ING's initial ADS price.
Interest is payable monthly.
The payout at maturity will be par unless the final ADS price is less than 75% of the initial ADS price, in which case the payout will be one ING ADS per note.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger yield optimization notes
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Underlying shares: | ING Groep NV American Depositary Shares (Symbol: ING)
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Amount: | $11,230,454.40
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Maturity: | Jan. 23, 2012
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Coupon: | 9.28%, payable monthly
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Price: | Par of $10.56
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Payout at maturity: | If final ADS price is less than trigger price, one ING ADS; otherwise, par
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Initial ADS price: | $10.56
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Trigger price: | $7.92, 75% of initial price
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Pricing date: | Jan. 14
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Settlement date: | Jan. 21
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Agents: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90267F501
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